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  • Tuesday, April 29, 2025
  • The Financial Encyclopedia
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Contra Liability

A contra account that is used to reduce the balance of a liability on the statement of financial position. It...

    Contra Asset

    A contra account that is deducted from an asset account to arrive at the asset's net book value. An example...

      Control Account

      A single account that controls a set of subsidiary accounts. In other words, it summarizes the subsidiary accounts in order...

        Contra Account

        An account whose balance is opposite the balance in its related account (the so-called paired account). For instance, accumulated depreciation...

          Carrying Value of a Liability

          The value at which a liability is recorded in the books of a business. It appears in the statement of...

            Carrying Amount of a Liability

            The amount at which a liability is recorded in the books of an entity. It appears in the statement of...

              Carrying Value

              The amount/ value at which an asset is recognized after deducting any accumulated depreciation (for physical assets) / amortization (for...

                Carrying Amount

                The amount at which an asset is recognized after deducting any accumulated depreciation (for physical assets) / amortization (for financial...

                  Capital Lease

                  A type of lease in which a financier (a finance company, a bank) is and remains the legal owner of...

                    Cash Accounting

                    An accounting basis of recording transactions and events only when cash receipt/ payment is involved. More specifically, cash accounting is...